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Because any change to the SALT cap benefits only taxpayers who itemize their deductions and pay more than $10,000 in state and local income or sales and property taxes, letting the cap expire ...
The 2020 articles showed that Trump paid just $750 in federal income taxes in 2017 and 2018. Trump paid no income taxes at all in 10 of the past 15 years because he generally lost more money than ...
In recent weeks, some Republicans have backed down from calls for spending cuts to offset the cost of Trump's full tax-cut menu including eliminating taxes on tips, Social Security benefits and ...
On the campaign trail, Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime ...
The TCJA made other significant changes to the tax code, including doubling the standard deduction, or the amount of money taxpayers can subtract from their annual before income tax is applied. It ...
3. Harris wants to scale up tax credits for families and first-time homebuyers, while Trump wants to create new tax breaks. Trump’s Tax Cuts and Jobs Act expanded the child tax credit (CTC) for ...
Trump has come out in favor of extending a major tax cut that he signed to law in 2017, and Reuters reported in April that Trump was mulling an additional tax cut geared toward the middle class.
At the end of 2025, significant tax cuts are expiring that were passed under the Trump administration through the Tax Cuts and Jobs Act (TCJA), often called the Trump tax cuts. Unless a new law is...